1st Corrected 1099’s…. Not too Many, Donald the “Brain”

The first corrected re-issue of 1099’s has been processed and we have only a single digit number of recipients. Those lucky few, whom we have already contacted are covered, so the rest of us can wait in hopeful glee we dodge the next corrected run, due out in about a week.

Generally, all other items being equal, which they never are, the first batch of corrected 1099’s is the largest, with future batches tapering off further.

A couple of interesting 1099 facts worth remembering:

Corrected 1099’s resulting in less than a $10 difference will not be re-issued

1099’s less than $60 total, will generally not be issued, with a few exceptions

1099’s are Consolidated i.e. Int, Div and B are one consolidated page, for a greener, paper saving, and sometimes tax confusing delivery

Early bird tax filers, we thank you all, and wish more were like you, but again we ask you “hold” on hitting the send button until we receive more clarity on the next few rounds of corrected 1099’s.

Donald the Brain

Donald returned mid-week from his four day trip. The trip’s purpose was education/training on our new trading and rebalancing service, Tamarac (more to come soon.) The trainer, whose tenure of over 3 years of monthly groups of 50, announced Donald was the first person/firm ever to have the system completely 100% working before the end of the sessions. He even ended the classes with helpful encouragement and pointers to his fellow attendees. That is why his nick name is “The Brain.”

Out of the office today

I am out of the office today with end of the month review, newsletter prep, and a fun late afternoon with a group of fellow investment managers and indian princess dads. It was a roller coaster week for some reason, maybe due to the “Blue Screen of Death” from one of Donald the Brain’s three computers (nice to check our backup systems in real time…it worked.) The good news, as usual, it was a super fun week thanks to you guys, and the ever-changing capital markets!

Thanks for reading. Next week, a few more tips on the tax forms, along with capital market updates!

Important Disclaimer

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!

Background

The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.

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